Sentry Investment Management LLC Cuts Position in Costco Wholesale Co. (NASDAQ:COST)

Sentry Investment Management LLC cut its holdings in shares of Costco Wholesale Co. (NASDAQ:COST - Free Report) by 16.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,418 shares of the retailer's stock after selling 270 shares during the quarter. Costco Wholesale comprises 0.8% of Sentry Investment Management LLC's investment portfolio, making the stock its 19th biggest position. Sentry Investment Management LLC's holdings in Costco Wholesale were worth $1,288,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Investment Management Corp VA ADV purchased a new position in Costco Wholesale during the fourth quarter worth about $25,000. Synergy Investment Management LLC purchased a new position in Costco Wholesale during the fourth quarter worth about $31,000. NewSquare Capital LLC raised its stake in Costco Wholesale by 250.0% during the fourth quarter. NewSquare Capital LLC now owns 35 shares of the retailer's stock worth $32,000 after purchasing an additional 25 shares during the period. Collier Financial purchased a new position in Costco Wholesale during the fourth quarter worth about $35,000. Finally, Barrett & Company Inc. raised its stake in shares of Costco Wholesale by 59.3% in the 4th quarter. Barrett & Company Inc. now owns 43 shares of the retailer's stock valued at $39,000 after acquiring an additional 16 shares during the period. 68.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on COST. Stifel Nicolaus set a $1,035.00 price target on shares of Costco Wholesale in a research note on Thursday, May 29th. Cowen reissued a "buy" rating on shares of Costco Wholesale in a research note on Friday, March 7th. DA Davidson boosted their price target on shares of Costco Wholesale from $900.00 to $1,000.00 and gave the company a "neutral" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. boosted their price target on shares of Costco Wholesale from $1,065.00 to $1,070.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Finally, Truist Financial boosted their price target on shares of Costco Wholesale from $995.00 to $1,042.00 and gave the company a "hold" rating in a research note on Friday, May 30th. Eleven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,035.32.

Costco Wholesale Stock Down 0.4%

Shares of Costco Wholesale stock traded down $3.90 during trading hours on Wednesday, hitting $1,051.69. The company had a trading volume of 1,420,603 shares, compared to its average volume of 2,049,748. The company's 50-day moving average is $988.73 and its two-hundred day moving average is $977.58. Costco Wholesale Co. has a twelve month low of $793.00 and a twelve month high of $1,078.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.43. The company has a market cap of $466.62 billion, a P/E ratio of 61.76, a price-to-earnings-growth ratio of 6.15 and a beta of 1.00.

Costco Wholesale (NASDAQ:COST - Get Free Report) last issued its earnings results on Thursday, May 29th. The retailer reported $4.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.04. Costco Wholesale had a net margin of 2.93% and a return on equity of 32.31%. The business had revenue of $63.21 billion during the quarter, compared to analysts' expectations of $62.93 billion. During the same quarter in the prior year, the business posted $3.78 EPS. The company's revenue for the quarter was up 8.0% on a year-over-year basis. Analysts anticipate that Costco Wholesale Co. will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.20 dividend on an annualized basis and a yield of 0.49%. This is a boost from Costco Wholesale's previous quarterly dividend of $1.16. Costco Wholesale's dividend payout ratio is currently 30.36%.

Insider Buying and Selling

In related news, EVP Claudine Adamo sold 900 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $922.56, for a total transaction of $830,304.00. Following the completion of the sale, the executive vice president now owns 6,987 shares in the company, valued at $6,445,926.72. This represents a 11.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gary Millerchip sold 1,100 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $940.01, for a total transaction of $1,034,011.00. Following the sale, the executive vice president now owns 11,165 shares of the company's stock, valued at approximately $10,495,211.65. This represents a 8.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,600 shares of company stock worth $9,140,195 in the last 90 days. Company insiders own 0.18% of the company's stock.

Costco Wholesale Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.